Australia mining investment to drop 58% over next three years
Published: Monday, 30 November 2015
The Australian mining industry continues to be squeezed by a global oversupply of most commodities and a slowdown in demand from China. According to an Australia-based industry analyst, these factors are stifling Australian economic growth and will cause thousands of job losses in the next three years.
Mining investment in Australia is expected
to decrease by 58% over the next three years, compared with
2014/15 levels, while job losses in the sector would follow the
same trend, according to a new report by economic
forecaster and industry analyst BIS Sharpnel.
In its report entitled "Mining in...